Thursday, July 3, 2014

Rural Grants Help Local Businesses Grow in South Dakota

If you were a small business owner in South Dakota, you'd probably be thrilled to get a $10,000 grant in free money that doesn't have to be paid back. That's exactly what is happening to small, rural businesses through the Dakota Rising Entrepreneur Fellow Program.

The grants are being offered by the Governor's Office of Economic Development. Four small business owners will each receive grants of $10,000 to help expand their businesses. In addition to the grants, recipients will receive business advice from a network of peers to support their efforts in developing and expanding their business.
Small businesses are eligible based on plans submitted that will result in high potential to grow their business. The plans can include new products or services, or adding jobs. Each business who receives a grant must use $2,000 for themselves and put $8,000 back into their business.

The purpose of the grant program is to stimulate the growth of small businesses located in rural South Dakota. The grant program is designed to provide not only financial support but business advising that will help rural entrepreneurs to foster their business in the community.